In the 1993 comedy film “Groundhog Day,” Bill Murray has to wake up several times on the same day to realize tomorrow isn’t coming so soon. Online travel investors need to be quicker than that.
As of Thursday’s close, shares of homestay giant Airbnb are down 30% from their February highs this year. They are now trading just 21% above lows seen last December amid pandemic lockdowns. This is despite the fact that Airbnb’s bookings were already growing as of the first quarter relative to pre-pandemic levels. And on Thursday, the company said its second-quarter gross booking value was up 37% over the same period in 2019. For investors, that presents an opportunity.